Manhattan Debt Relief Lawyer
Are you drowning in debt? If you are, you are not alone. Many people are in the same situation as you, and they are looking for relief. If you are suffering from overwhelming debt, you may be able to file for bankruptcy. However, you need to know what type of bankruptcy is right for you. At Law Office of Julio E. Portilla, P.C., we can help you determine which type of bankruptcy is right for your situation.
We can help you get the relief you need through any of the following types of bankruptcy:
- Chapter 7
- Chapter 13
- Chapter 11
- Collateral Defense
To learn how our firm can support your debt relief goals, call us at (917) 909-6166 for a free consultation.
What Are the Differences Between Chapter 7, 11 & 13 Bankruptcy?
Chapter 7 bankruptcy is also known as liquidation bankruptcy. This type of bankruptcy involves the complete discharge of certain debts. The filer's assets will be liquidated, and the proceeds will be used to pay off the remaining debts. This type of bankruptcy is ideal for people who have a lot of unsecured debt, such as credit card debt. If you have very little income, this may be the best option for you.
Chapter 11 bankruptcy is also known as business reorganization bankruptcy. This type of bankruptcy is used by businesses and corporations. It allows the business to continue operating while they negotiate a reorganization plan with their creditors.
Chapter 13 bankruptcy is also known as reorganization bankruptcy. This type of bankruptcy involves a repayment plan that lasts for three to five years. The filer must come up with a monthly payment that will cover their expenses and pay off their debts. This type of bankruptcy is ideal for people who have a steady income but cannot keep up with their debt payments.
What Is Collateral Defense Bankruptcy?
Collateral defense bankruptcy is used to protect property that is at risk of being seized by a creditor. This type of bankruptcy is used when the property being threatened is a primary residence, a vehicle, or other property that a person cannot afford to lose. It can be used to protect a home from foreclosure or repossession, as well as prevent wage garnishment.
Why Choose Our Debt Relief Lawyer?
Bankruptcy is a complicated legal process, and you will need an experienced attorney by your side to help you through it. Law Office of Julio E. Portilla, P.C. has been helping people for years - assisting countless clients to get the relief they need through bankruptcy.
When you choose our firm, you can expect:
- A free consultation to discuss your options
- A knowledgeable attorney who can help you make the best decision for your situation
- The peace of mind that comes with knowing you are protected from creditors
To learn more about filing for bankruptcy in New York, dial (917) 909-6166 today or contact our Manhattan debt relief lawyer online.
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